COVID-19: Coronavirus Business Interruption Loan Scheme (CBILS)
To help with your cash flow during this very difficult time, the government has backed a Coronavirus Business Interruption Loan Scheme (CBILS) scheme to support small and medium-sized businesses.
The government will cover the interest payments for the first 12 months and will pay the loan application fee.
How do I apply?
You will need to apply to your own bank in the first instance and they will need the following to consider your application:
The amount you would like to borrow
What the money is for — the lender will check that it’s a suitable business purpose and the right type of finance for your needs
The period over which you will make the repayments — the lender will assess whether the loan is affordable for you
How do I identify a suitable lender?
The British Business Bank offers a handy tool to help identify which lenders to approach in your region and for the type of finance that you are looking for.
What documents will I need to provide?
You will need to provide certain evidence to show that you can afford to repay the loan. This is likely to include:
Cash flow forecast
Details of assets
If you need any help with this process, we can help. Get in touch with us on 023 92 658 274 or email@example.com
Where can I find out more?
Visit the British Business Bank here for further information